Enough fireworks to chase away many retail investors. Equity fund outflows have been heavy, the highest in two years. Yet the S&P 500 is also up nearly 11% from its June low and is now pushing over the 1,400 level for the first time since late April.
Now the question is: Will it last? And where should investors arriving late to the party focus their attention?
- The economy is in poor shape with GDP growth slowing to just 1.5% in the second quarter.
- The unemployment creeping back up to 8.3% last month.
- Stocks and risky assets — especially commodities — have been moving higher over the last few days
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